After tax-cut love, corporate America clashes with Trump on trade
The departure of President Trump’s chief economic adviser Tuesday sent the after-hours stock market plunging, rattled foreign capitals, and raised the risk that the United States, after 70 years of cheerleading free trade, is turning its back on the idea.
Until now, nations and companies have brushed aside the president’s support of aggressive trade barriers, reasoning that business-minded advisers would moderate any harsh moves by a divided administration. That changed with the resignation of Gary Cohn, the highest-ranking free-trader inside the White House.
No one can avoid Mr. Trump’s tough trade talk anymore. It now seems a given that he will announce broad tariffs against imported steel and aluminum. And given the reaction from trading partners, it also appears likely they will retaliate with similarly sized
Gains from tax cuts 'could be erased'Private sector wondering, which scenario?Less to lose in a trade war, but